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The Dow Index fell more than 180 points on the 14th (local time), when the corona vaccination began in the United States. New York City warned of a possible economic blockade, and concerns are growing that it will take time for the economy to normalize despite the start of vaccination.
On that day, the Dow index fell 184 points (0.6%). At the beginning of the market, it rose by 280 points due to anticipation of an economic normalization following the start of vaccination, but turned to a decline in the afternoon. The S&P 500 index also fell 0.4%. It has been on the downtrend for 4 consecutive days. Only the Nasdaq index, centered on technology stocks, rose 0.5%.
According to CNBC, New York Mayor de Blasio warned that New York City could soon experience a “complete shutdown”. “We are seeing a level of coronavirus infection we haven’t seen since last May,” he said. “We have to stop that momentum, otherwise our hospital system will be threatened.”
The UK also decided to implement a strong policy to curb the spread of corona in London. Quincy Crosby, chief market strategist at Prudential Financial, told CNBC that these measures were “blockades harming the world economy. The question is, how many states (and countries) are introducing blockades?”
![[해외주식] 'Vaccination' and'Containment Fear'… Dow 180p down](https://i0.wp.com/img.hankyung.com/photo/202012/01.24724157.1.jpg?w=900&ssl=1)
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There is still optimism about the market. Mark Hapel, Chief Investment Officer of UBS Global Asset Management, said in a note to investors, “We expect a wide range of corona vaccinations to be available by the second quarter of 2021.” It will be possible to return to the market,” he said. “Even in the global stock rally that started in early November, there is room for (stock price) to rise further.”
Raymond James’ stock strategist Thavis McCourt also said in an investment note, “It is clear that the economy is slowing as the regional shutdown continues, but the impact on the stock price is still limited.” “It is unclear whether this (shutdown) will continue until the first quarter of next year, but if there is no substantial change in the vaccine story (that the economy will normalize), the (stock price) decline will be limited,” he said.
Washington = Correspondent Ju Yong-seok [email protected]
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